Peter Schiff's bank under investigation

[Bumble]

There have been several reports that Euro Pacific - the bank owned by Peter Schiff - is under investigation for having customers who are involved in tax evasion and/or money laundering. The investigation began back in January, but has only recently made the news. It is a tough job for any bank to vet its customers and attempt to exclude those involved in illegal activities, but the authorities have been coming down hard on banks that are caught not doing all the necessary checks.

https://decrypt.co/45466/peter-schiff-banked-known-criminals-tax-probe-claims

[MancunianStacker]

Every bank should be under investigation 😂 

I think the powers that be are rather selective in which banks they investigate and which they ignore. 

[RichmondStacker]

2 hours ago, Bumble said:

There have been several reports that Euro Pacific - the bank owned by Peter Schiff - is under investigation for having customers who are involved in tax evasion and/or money laundering. The investigation began back in January, but has only recently made the news. It is a tough job for any bank to vet its customers and attempt to exclude those involved in illegal activities, but the authorities have been coming down hard on banks that are caught not doing all the necessary checks.

https://decrypt.co/45466/peter-schiff-banked-known-criminals-tax-probe-claims

Just like his Dad then.

[silvernewbie]

most banks go through this probing it is a way for the regulators to earn some cash and generate business for the army of lawyers involved!